The best ideas are not exclusive

What you can learn from a very different business

Our experience has been that the best owners and managers know the best ideas are not always their own. Not that they do not have some of the best; they just don’t have all of them. These owners and managers go looking for these ideas as they work to make their store better. We find these managers and owners are finding these ideas in two places; their community and their trade association.

Within the community, we find these great ideas by creating or joining a group of advisors. You may be the only liquor store in the community, but the great ideas are out there. The group of advisors should come from the other businesses within the community. Find the best hardware store, pharmacy, grocery store, clothing store; add some from service industries such as a restaurant and insurance agency.

An early morning Dutch-treat breakfast held monthly works best. Create a printed agenda for what should be one hour. Start with a “best practices” format asking what their most effective advertising media is, where are you finding new employees, and other concerns relevant to everyone. With the right mix of people, you can add reading and reviewing books on small business management.

The group discussion will bring to light ideas from one industry and share with another. As an example, a person walking into a pool store to have their water tested does not look at any of the merchandise until taking care of what they first came to the store for. The same is true for the person walking into the pharmacy to have a prescription filled, and the person walking into the hardware store to have a key made. They only see merchandise after they have accomplished their initial task. Can we see a similar situation with merchandise is placed in your liquor store and whether your customers notice?

There is strength, and knowledge, in numbers; and the best ideas are not exclusive to just one retailer.

The second place to get these great ideas is your trade association. While many may see that annual exercise of “paying their dues”, if you approach it with the right mindset, the money paid for dues can be a wise investment in the future of your business.

Now you are among other liquor stores with similar challenges and opportunities. Visiting with owners recently, one told the story of a problem they had experienced with their state workman's compensation plan. There had been an assessment against their business, and as they were unable to have it reversed, they went to their association to enlist their help in pleading their case.

The answer given by this person clearly showed the reason for the investment. "If I total the amount I have paid the association each year for as long as I have been a member, and if I continue to be a member until I am 100 years old, I still will not have paid as much as my association was able to save for me. Through the lobbyist which the association employs, the decision was reversed and we did not pay the penalty, interest or fine."

When you attend association events, and visit with owners from other parts of your state or the country, you have an opportunity to learn and grow your business. Our experience has been the attendees are those who are the best businesses. They are also the ones who are working to become the best businesses. Where else could you possibly go to be exposed to great ideas? Surely, no consultant could bring you such a variety of experiences and ideas.

It is like American Express says in their advertisements; “Membership has its benefits”.

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